Paramount Resources (TSE:POU) Upgraded to “Strong-Buy” at Cibc World Mkts

Cibc World Mkts upgraded shares of Paramount Resources (TSE:POU) from a hold rating to a strong-buy rating in a research report report published on Thursday morning, Zacks.com reports.

POU has been the topic of a number of other research reports. CIBC raised their price target on Paramount Resources from C$37.00 to C$38.00 in a report on Monday, July 15th. Cormark raised Paramount Resources to a “hold” rating in a report on Monday, September 23rd. BMO Capital Markets increased their price target on Paramount Resources from C$38.50 to C$40.00 in a report on Wednesday, July 3rd. Jefferies Financial Group dropped their price objective on shares of Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank raised their target price on shares of Paramount Resources from C$42.00 to C$43.00 in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$37.25.

Paramount Resources Price Performance

Shares of TSE POU opened at C$26.65 on Thursday. The stock has a market cap of C$3.91 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.14 and a beta of 3.04. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.80. The stock has a 50 day moving average of C$26.98 and a two-hundred day moving average of C$29.44. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.57 EPS for the quarter. Paramount Resources had a net margin of 19.66% and a return on equity of 10.03%. The firm had revenue of C$443.60 million during the quarter, compared to the consensus estimate of C$468.00 million. On average, research analysts forecast that Paramount Resources will post 1.4075758 earnings per share for the current year.

Paramount Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Tuesday, October 15th. Paramount Resources’s dividend payout ratio (DPR) is 76.27%.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.